In August, the GSP program saved American companies $75 million on about $1.8 billion in imports. Those figures are notable for several reasons: That is the highest reported monthly savings since October 2008. GSP imports were up by 17 percent – and tariffs savings were up by 21 percent – compared to August 2016. Year-to-date...
Continue readingIn the first seven months of 2017, GSP saved American companies $472 million in eliminated tariffs. With the addition of Delaware and Hawaii, year-to-date GSP savings through July exceeded $1 million for 39 states plus Puerto Rico. The map below shows the overall value of year-to-date 2017 GSP imports (in blue) and tax savings (in...
Continue readingRoyal Chain Group is a family-owned importer and distributor of fine jewelry. Based in New York City, it supplies jewelry to retailers throughout the United States. Royal Chain imports gold and silver jewelry from Indonesia, Thailand, and Turkey under GSP. While GSP was expired, Royal Chain paid more than $2 million in new tariffs. It...
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